Canadian Market Turning In Lackluster Performance

(RTTNews) - Canadian shares are swinging between gains and losses in cautious trade on Monday, and the market is down marginally about an hour past noon, with energy stocks drifting lower, while financial and healthcare shares are finding some support.

Industrial and information technology stocks are mostly weak. Materials, consumer discretionary and real estate stocks are turning in a mixed performance.

Investors are looking ahead to some crucial data and the Bank of Canada's interest rate decision, due this week.

Worries about surging delta variant of the coronavirus and its likely impact on the pace of global economic recovery weigh on sentiment.

The benchmark S&P/TSX Composite Index is down 11.25 points or 0.06% at 20,246.70. The index, which has been moving in a very tight band, touched a low of 20,235.54 and a high of 20,283.06.

MTY Food Group Inc (MTY.TO) shares are up nearly 7%, extending gains from the previous session. Largo Resources (LGO.TO), Richelieu Hardware (RCH.TO), Kirkland Lake Gold (KL.TO), Sun Life Financial (SLF.TO), Royal Bank of Canada (RY.TO) and Franco-Nevada Corporation (FNV.TO) are up with sharp to moderate gains.

Sierra Wireless (SW.TO) is down nearly 5%. CAE Inc (CAE.TO), Kinaxis Inc (KXS.TO), Maxar Technologies (MAXR.TO), Canadian Pacific Railway (CP.TO), Canadian National Railway (CNR.TO), West Fraser Timber (WFG.TO), Docebo Inc (DCBO.TO) and Lightspeed Pos (LSPD.TO) are down 1 to 3%.